1500 PENMAN Road
About This Property
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 30, 2025 | Price Decreased |
$1,475,000
↓ $74K
(4.8%) | |
| Price Decreased | |||
| Apr 11, 2025 | Price Decreased |
$1,549,000
↓ $50K
(3.1%) | |
| Price Decreased | |||
| Mar 26, 2025 | Listed | $1,599,000 | |
| Listed | |||
| | |||
|
Step into this custom 4-bedroom, 4-bathroom home, designed by Terra Innovations. This home is only minutes from the beach, with a sidewalk that takes you straight there for easy, everyday coastal living.
With 10-foot ceilings on the first floor and 8-foot doors throughout, the open design creates a spacious, airy atmosphere, highlighted by wide plank hardwood floors throughout the majority of the home, with carpet in the secondary bedrooms for added comfort.
The gourmet kitchen featuring quartz countertops, Fabuwood cabinets, an all-gas range, and a refrigerator that makes 3 kinds of ice, is perfect for family gatherings or quiet nights in. The large lanai is great for outdoor entertainment or enjoying your morning coffee, and the spacious flat yard offers plenty of space for activities.
The primary bedroom offers double tray ceilings, an oversized closet, and a large bathroom featuring a double shower head. The home features an upgraded Pella window package, offering both energy efficiency and style. An oversized 2-car garage provides ample space for vehicles, a golf cart, and storage. Check out the spec sheet in the listing details to learn more about this thoughtful home.
This is the last new build available on the street and in the Sunset Bay Community. This house fronts on Emma Lane. Don't miss the opportunity to make this gorgeous home yours!
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| Feb 7, 2025 | Temporarily off market | - | |
| Temporarily off market | |||
| Jan 3, 2025 | Price Decreased |
$1,599,000
↓ $100K
(5.9%) | |
| Price Decreased | |||
Property Highlights
Building Info
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About Beaches
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
$2,450 /mo
- 2 Beds
- 1 Bath
- 1,085 ft²
$2,800 /mo
- 3 Beds
- 2 Baths
- 1,230 ft²
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017